5 Simple Techniques For hong kong company secretary's practice manual

5 Simple Techniques For hong kong company secretary's practice manual

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A company secretary is often referred to as the company’s executive, whose Main role is making sure that the small business and its operations adjust to all statutory rules and regulations set within the Hong Kong Businesses Ordinance.

(4) If, Anytime over the economical yr to which a administrators’ report ready by the directors of the company relates, a permitted indemnity provision produced by the company was in pressure for the advantage of one or more individuals who ended up then directors of the connected company in the company, the report will have to condition the provision was in power. (five) In this area— administrators’ report(董事報告) implies— (a) the report required to be prepared beneath section 388(1); or (b) the consolidated report required to be prepared under section 388(2). Part: 471 Position where duplicate of permitted indemnity provision need to be saved

Examples— one. A company may extinguish or decrease the liability on any of its shares in regard of share capital not paid up. 2. A company may perhaps, possibly with or without the need of extinguishing or minimizing liability on any of its shares— (a) terminate any paid out-up share capital that may be shed or unrepresented by out there belongings; or (b) repay any compensated-up share funds in excessive on the company’s needs. (two) Nevertheless, a company will have to not decrease its share capital if, because of the reduction, there would not be any member on the company holding shares besides redeemable shares. (3) This Division is subject to any provision of a company’s content articles that prohibits or restricts the reduction of your company’s share money. Section: 211 Technique for the company to reduce its share cash L.N. 163 of 2013 03/03/2014 The method for any company to scale back its share money beneath this Division is— (a) by Exclusive resolution supported by a solvency statement underneath Subdivision two; or (b) by Exclusive resolution confirmed by the Court below Subdivision three. Part: 212 Offence if share funds is reduced in contravention of Division

I can't thank Osome sufficient to the wonderful help they provided in finding my company up and working. Their group was not simply Tremendous proficient but in addition amazingly supportive and friendly.

Be cautious not To combine up a “company secretary” with a “secretary” who might only handle clerical duties. An formally appointed company secretary of the company performs a way more Superior position during the legal servicing of the company.

Portion 86 with the predecessor Ordinance, as in drive instantly just before its repeal— (a) proceeds to apply in relation to an software made by a company, or any person fascinated, prior to the commencement day* of sections 346 and 347 for the uses of that section 86; and (b) continues to apply, by virtue of portion 91 on the predecessor Ordinance as so in pressure, in relation to an software created by a non-Hong Kong company registered less than Part XI of the predecessor Ordinance, or anyone fascinated, before that commencement date* with the reasons of that area 86. 71. Detect to Registrar of appointment of receiver or supervisor and many others.

I discovered Osome’s info from the Hong Kong federal government’s Formal Web page. Compared Along with the service corporations my buddies introduced to me ahead of, it appears to get additional Skilled and its services tend to be more according to mainland service requirements. Particular thanks to Duane and Charmaine who worked on my situation.

Cap 622 - Providers Ordinance one hundred ten (three) For the needs of the portion, an instrument of transfer is Licensed by a company if it bears— (a) the phrases “certificate lodged”, or words to the exact same effect, in English or Chinese; and (b) below or adjacent to All those words and phrases, the signature or initials of anyone owning the particular or evident authority to certify transfers on behalf with the company. (4) Unless of course the contrary is proved, a signature or initials showing on an instrument of transfer as described in subsection (3)(b) has to be regarded— (a) since the signature or initials of the person whose signature or initials they purport for being; and (b) as possessing been placed on the instrument by that individual or by another one that has the actual or clear authority to utilize the signature or initials for the objective of certifying transfers on behalf with the company. Portion: 323 Problem of debenture or certification for debenture stock on transfer

(two) Any volume that might be required by a continuing provision to generally be transferred to the company’s share top quality account or capital redemption reserve on or following the commencement day* of portion a hundred thirty five gets to be A part of the company’s share cash. 38. Utilization of sum standing to credit of share quality account

The corporate secretary also manages the compliance status from the company. And functions being a mediator between the company's shareholders and directors.

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L.N. 163 of 2013 03/03/2014 (1) This section has influence if a permitted indemnity provision is built for the director of a company, and applies— (a) to that company (whether the provision is produced by that company or an affiliated company of that company); and (b) Should the provision is created by an affiliated company, to that affiliated company. (2) A company to which this section applies ought to hold the next at its registered Place of work or at a place prescribed by rules designed underneath part 657— (a) a copy on the permitted indemnity provision; (b) if the provision isn't in producing, a prepared memorandum environment out the terms of the provision. (3) The company— (a) will have to company secretary hong kong cost keep the copy or memorandum for at least a single yr after the date of termination or expiry from the provision; and (b) ought to hold the duplicate or memorandum obtainable for inspection throughout that time.

(3) In spite of subsection (1), When the nominal amount of money or nominal price of a share is altered on or after the commencement date* of section 135 under a continuing provision, a reference inside a continuing provision into the nominal amount or nominal value of the share is usually a reference for the nominal sum or nominal worth as so altered. Part 5

Section 317 relates to debentures or debenture inventory allotted on or following the commencement day* of that section. fifty eight. Situation of debenture or certification for debenture inventory on allotment